Viet_Nam Vietnam

New Documents

The Organisation for Economic Co-operation and Development announced that Vietnam ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.

Governor Nguyen Thi Hong of the State Bank of Vietnam attended a ceremony related to a new memorandum of understanding between authorities in the U.K. and Vietnam on financial intelligence.


Enforcement Actions

0 Items Found

Important Facts

  • The U.S. Department of State categorizes Vietnam as a major money laundering jurisdiction. Vietnam’s economy is largely cash-based and while the use of bank accounts is increasing but remains vulnerable to money laundering through false declarations, including fictitious investment transactions and customs fraud, The Department of State additionally notes that Vietnam’s tech-savvy population and newly legalized local casinos may lead to additional exposure to illicit finances. Such illicit finances stem from high-value sales of luxury items and real estate; public corruption. Sources of illicit funds include organized crime groups in Asia, Europe, and North America. Vietnam has in place know your customer and suspicious transaction reporting requirements. In 2018, Vietnam prosecuted over 90 defendants accused of criminal charges associated with illegal online gaming and obtained convictions against almost all defendants, including four on money laundering charges.
Source: 2019 International Narcotics Control Strategy Report (INCSR)


FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 2 High : 0
Largely Compliant : 11 Substantial : 2
Partially Compliant : 23 Moderate : 2
Non-Compliant : 4 Low : 7


Rank : 12/141
Score : 7.04/10


Rank : 96/180
Score : 37/100

Tax Justice Network i

Rank : 37/133
Score : 74/100